IFSCA (Registration of Insurance Business) Regulations, 2021

Last updated: 02 November 2021

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The International Financial Services Centres Authority (Registration of Insurance Business) Regulations, 2021 have been established. These regulations outline the process for the registration and operation of insurers and re-insurers within an International Financial Services Centre. They fall under the regulatory purview of the International Financial Services Centres Authority Act, 2019.

INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY NOTIFICATION Gandhinagar, the 18th October, 2021 International Financial Services Centres Authority (Registration of Insurance Business) Regulations, 2021 F. No. IFSCA/2021-22/GN/REG016. -In exercise of the powers conferred by sub-section (1) of Section 28 read with Section 12 and 13 of the International Financial Services Centres Authority Act, 2019, the International Financial Services Centres Authority hereby makes the following Regulat

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FAQ :

These are regulations made by the International Financial Services Centres Authority to govern the registration and operations of insurers and re-insurers in an International Financial Services Centre.

The regulations come into force from the date of their publication in the Official Gazette.

The objective is to establish the process for the registration and operations of insurers and re-insurers in an International Financial Services Centre under the regulatory purview of the IFSCA Act, 2019.

An 'Applicant' can be an insurer registered with IRDAI, a foreign insurer or re-insurer, a Society of Lloyd's, a branch office of a foreign insurer, a public company or subsidiary of an insurer, an insurance co-operative society, or a body corporate incorporated outside India (not a private company).

These regulations are made under the International Financial Services Centres Authority Act, 2019.